Cars blog

Auto production in Brazil is likely to fall this year to its lowest level since 2007, national automakers association Anfavea said on Tuesday, adding to concerns of more layoffs and slowing investments in the keystone industry. Output is likely to drop 10 percent in 2015, according to Anfavea, slashing its January forecast of 4 percent growth for the year. The group expects domestic auto sales ...

Auto production in Brazil stagnated in February and sales continued to tumble as carmakers got off to their weakest start in at least five years, deepening the crisis in an industry that is shedding jobs and stressing trade relations. Automobile output in Brazil slid 2.3 percent and sales tumbled 26.7 percent in February from January, automakers' association Anfavea said on Thursday. Both ...

By Ana Isabel Martinez and Krista Hughes MEXICO CITY/WASHINGTON (Reuters) - Grappling with tumbling auto sales and weak economic growth, Brazil wants to renew an auto quota pact with Mexico that is set to expire in March, a move that could stoke trade tensions. A treaty between the two nations and auto manufacturers, which sets quotas on how many light vehicles Mexico and Brazil can sell each ...

Police on Friday seized a piano, the equivalent of $45,700 in cash, six cars and other possessions from the home of Brazilian tycoon Eike Batista, once Brazil's richest man, who is on trial for insider trading. The seized cars included a Lamborghini and a Porsche. The Wall Street Journal reported Friday that Judge Flavio Roberto de Souza said in an interview that he is looking for evidence that ...

Brazilian police said they seized seven cars, including a white Lamborghini, and $32,490 in cash, computers, watches and other items on Friday from embattled oil and mining tycoon Eike Batista, who is on trial for insider trading in Rio de Janeiro. Batista resigned as chairman of Oleo E Gas Participações SA, the flagship firm in his once-expansive EBX conglomerate on Jan. 27, two months after ...